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Bitfarms | 425: Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions

SEC ·  Aug 26 14:26

Summary by Moomoo AI

Bitfarms Ltd., a cryptocurrency mining company, has announced its plans to acquire Stronghold Digital Mining, Inc. through a proposed merger. The transaction is contingent upon the approval of Stronghold's shareholders and the receipt of all necessary regulatory approvals. The merger aims to enhance Bitfarms' electrical power access, increase its energy portfolio to 950 MW by the end of 2025, and expand its capacity up to 1.6 GW. Bitfarms anticipates that the merger will allow it to achieve a target hashrate of 10 EH/s for the Stronghold business by 2025. The company also expects to leverage its expertise to improve energy efficiency and hashrate, as well as to integrate high-performance computing (HPC) and artificial intelligence (AI) with Bitcoin mining operations. The forward-looking...Show More
Bitfarms Ltd., a cryptocurrency mining company, has announced its plans to acquire Stronghold Digital Mining, Inc. through a proposed merger. The transaction is contingent upon the approval of Stronghold's shareholders and the receipt of all necessary regulatory approvals. The merger aims to enhance Bitfarms' electrical power access, increase its energy portfolio to 950 MW by the end of 2025, and expand its capacity up to 1.6 GW. Bitfarms anticipates that the merger will allow it to achieve a target hashrate of 10 EH/s for the Stronghold business by 2025. The company also expects to leverage its expertise to improve energy efficiency and hashrate, as well as to integrate high-performance computing (HPC) and artificial intelligence (AI) with Bitcoin mining operations. The forward-looking statements in the announcement reflect the company's expectations as of August 23, 2024, and are subject to various risks and uncertainties that could cause actual results to differ materially. Bitfarms will file a registration statement on Form F-4 with the SEC, which will include a proxy statement of Stronghold that also constitutes a prospectus of Bitfarms. Shareholders of Stronghold will receive the proxy statement/prospectus once the registration statement is declared effective by the SEC.

This announcement is a separate document:

Doc 1

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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